U.S. Bank Business Cash Rewards World Elite™ MasterCard® Review
U.S. Bank Business Cash Rewards World Elite™ MasterCard®
CardRatings Editor's Analysis: Pros & Cons
- For a limited time earn $500 cash back after spending $3,000 in the first 90 days of opening your account.
- Earn up to 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases.
- Enjoy a 25% annual bonus based on your prior year's cash rewards, up to $250.
- This card charges foreign transaction fees so it's not a great option for frequent international jetsetters.
TABLE OF CONTENTS
- U.S. Bank Business Cash Rewards World Elite™ MasterCard® Benefits
- U.S. Bank Business Cash Rewards World Elite™ MasterCard® Bonus and Rewards
- Potential Downsides of the U.S. Bank Business Cash Rewards World Elite™ MasterCard®
- How the U.S. Bank Business Cash Rewards World Elite™ MasterCard® Compares to Other Cards
- Who Should Apply for the U.S. Bank Business Cash Rewards World Elite™ MasterCard®?
The U.S. Bank Business Cash Rewards World Elite™ MasterCard® is designed for small and mid-sized businesses who are looking for a card to help maximize their purchases to bring cash back into their business.
Purchases made with the card at office supply stores, as well as with cell phone service providers and at gas stations, earn 3% cash back rewards, while all other eligible purchases receive 1% cash back. Also, the card provides a bonus of 25%, up to $250, for the rewards you earn each year, so you receive more money on the anniversary of opening your account.
Other cost-saving features of this card include a limited time introductory offer of $500 cash back once making $3,000 in purchases within 90 days of opening an account and a 0% introductory APR on new purchases and balance transfers made in the first 12 billing cycles (then 13.99%-22.99%* Variable). There is also no annual fee.
In addition to offering cash back rewards for purchases at cell phone service providers, the card also has the rare perk of protection for your business's mobile phones. This means that in the event your phone gets damaged or stolen, you can receive up to $1,000 per year in protection. There is a maximum reimbursement amount of $800 per cell phone claim and you can make two claims each year.
The U.S. Bank Business Cash Rewards World Elite™ MasterCard® has several benefits that may be attractive to business owners, including:
- No annual fee
- A limited time introductory offer that provides $500 cash back if the cardholder spends $3,000 in the first 90 days of opening the account
- 3% cash back on eligible purchases at office supply stores, with cell phone service providers, and at gas stations
- 1% cash back for other eligible purchases
- 0% introductory APR for purchases and balance transfers for 12 billing cycles (then 13.99%-22.99%* Variable)
- Unlimited rewards
- Annual 25% bonus on the previous year's cash rewards up to $250
- The ability to make contactless, mobile payments through Apple Pay, Google Pay, or Samsung Pay
- Access to 24 hour dedicated service, seven days a week
- Security measures that include 24/7 fraud monitoring and chip technology
- Zero fraud liability for unauthorized purchases
- Access to a free online tool to help users track their spending regularly
- Cell phone protection against damage or theft for up to $1,000 annually
- Earn 20% back on Amazon.com purchases on the Card within the first 6 months of Card Membership, up to $200 back.
- Plus, earn $150 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership. You will receive cash back in the form of statement credits.
- $0 intro annual fee for the first year, then $95.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
The U.S. Bank Business Cash Rewards World Elite™ MasterCard® offers generous rewards that are appealing to business owners, whether you are a mom-and-pop shop or a bit larger of an operation. When you purchase office supplies for your business, as well as cell phones and service for yourself and your employees, you are eligible to receive 3% cash back rewards. This rate also applies to purchases made at gas stations, which is particularly helpful if you and your employees travel regularly for business needs. In addition, all other eligible purchases earn 1% cash back.
The card also allows you to earn a 25% annual bonus on your rewards from the previous year. This bonus is awarded on your cardholder anniversary, and is worth as much as $250 back per year.
If you frequently travel abroad for business you may want to bring along another credit card. This card charges a 3% foreign transaction fee on items paid for in a foreign currency and 2% for those made in U.S. dollars. This might not seem like much, but if you travel internationally often, this fee could cause things to add up in a hurry.
U.S. Bank Business Cash Rewards World Elite™ MasterCard® vs. Ink Business Cash® Credit Card
The Ink Business Cash® Credit Card also offers a 0% intro APR offer, but just for new purchases. Cardholders can enjoy 12 months of interest-free payments on new purchases before regular 13.24% - 19.24% Variable APR applies. Other Ink Business Cash® Credit Card offers include a higher cash-back rate on purchases at 5% for the first $25,000 spent on office supplies and cell phone services, as well as cable television, landline, and Internet services, compared to the U.S. Bank Business Cash Rewards World Elite™ MasterCard®'s' 3%. On the other hand, the Ink Business Cash® Credit Card has a lower cash back rate for at gas stations at 2% compared to the 3% the World Elite card provides for purchases at gas stations. Both cards offer 1% cash back on other types of purchases.
The Ink Business Cash® Credit Card also has a notable welcome bonus. New cardholders can earn $750 once spending $7,500 in three months. This is a stronger cash back offer than the U.S. Bank card, however, the spend threshold required to earn it is much higher.
U.S. Bank Business Cash Rewards World Elite™ MasterCard® vs. Capital One Spark Cash for Business
Both cards offer an introductory bonus for purchases made in the first three months, with Capital One Spark Cash for Business providing a $500 bonus after spending $4,500 in three months. This is similar to the U.S. Bank offer, but again, the spending threshold required to earn it is a bit more.
The biggest difference between these two cards is in how they earn rewards. With the Capital One Spark Cash for Business, all purchases, no matter the category, earn bonus cash back. The rate is lower at 2%, but depending on where your business spends money, this flexibility could be more valuable than a higher earn rate in select categories.
One downside to the Capital One Spark Cash for Business is that it charges an annual fee: $0 intro for first year; $95 after that. It doesn't charge foreign transaction fees, however, so it could be a better fit for your business if you regularly travel abroad.
U.S. Bank Business Cash Rewards World Elite™ MasterCard® vs. American Express Blue Business Cash™ Card
Like the U.S. Bank Business Cash Rewards World Elite™ MasterCard®, the American Express Blue Business Cash™ Card has a 0% intro APR offer, but just for purchases. With the American Express Blue Business Cash™ Card, new cardholders can enjoy 0% APR on new purchases for 12 months (then 13.24% - 19.24% Variable). New cardholders can also earn a $250 statement credit once making $3,000 in purchases with the card in the first three months. On an ongoing basis, cardholders earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. So again, this could be a good option if you're looking for more flexibility in where you earn rewards.
Both cards have no annual fee.
Business owners with small or mid-sized businesses are eligible to apply for the U.S. Bank Business Cash Rewards World Elite™ MasterCard®. When applying, the following will be required:
- Business name
- Business address
- Business phone number
- When the business opened
- Business legal structure
- Annual sales
- Industry type
In addition, you are required to provide personal information including your contact details, social security number, annual income, and the percentage of the business that you own.
If you spend heavily in the rewards categories offered by the U.S. Bank Business Cash Rewards World Elite™ MasterCard®, or need some extra time to pay off new purchases or pay off an existing balance, you could be a great candidate for this card.
See Rates and Fees; terms apply for the American Express Blue Business Cash™ Card